Global oil demand may have hit the peak in 2019 and natural gas will follow suit around 2025, the director general of International Renewable Energy Agency said March 16, as the energy transition gathers pace, echoing forecasts made by BP last year. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Under a 2050 scenario that meets the Paris Agreement’s commitment to limit global warming to 1.5 C, fuel use is forecast to decline by more than 75% if energy transition policies are enforced now, IRENA said in its World Energy Transitions Outlook. Under the 1.5 C scenario, global oil production is projected to plummet by 85% to slightly above 11 million […]